QUESTION 1 [12] Core 2A maintains a minimum cash holding of R1,DDO. The uaance of daily net cash flow is R90 um. Core ZA's annual mesh outgoings are BANJO!!! spread evenly over the year. The traneadion cost of each sale or wrmase of treasury bills is R25. The tread):r Interest rate Is 13%. Required: a] Using the Baumol cash management model. calculate the optimum amount of heasury bills to be sold each lime cash ls required. (3] b] Bamtase the total costof cash from question a). (3] c} Using the Miller-Orr cash management model. calculate the optimum amount of securities to sell when sash holding reaches the lower limit. (3] d] Bale-mam and dismiss what happens when the upper and lower limits are reached in question c); (3]